Federal Reserve bank building sold

Space will be converted into luxury apartments

1:20 AM,
Apr. 30, 2013

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A group of local investors has paid $4.5 million for the Nashville home of the Federal Reserve Bank of Atlanta with plans to convert it into a 61-unit luxury apartment building.

The private ownership group plans to spend up to $15 million on the property at 301 Rosa L. Parks Ave. The group says the project, which will be called The Lofts at The Reserve, should be completed by early next year.

For 55 years, the 71,000-square-foot building housed the Nashville branch of the Federal Reserve Bank of Atlanta. Two years ago, the Fed said it planned to sell the building, citing shrinkage in its workforce ...